v3.25.2
Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table presents a summary of such fees and reimbursements incurred pursuant to the Cost Sharing Agreement between Terra LLC and Terra REIT:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Amounts Included in the Statements of Operations
Asset management and asset servicing fees$203,852 $277,621 $407,919 $667,679 
Operating expense reimbursement to Adviser (1)
129,656 320,214 306,094 702,508 
Origination, extension and disposition fees655 137,405 4,209 356,397 
_______________
(1)Amounts were primarily compensation for time spent supporting the Company’s day-to-day operations.
June 30, 2025December 31, 2024
Participating InterestsPrincipal BalanceCarrying Value Participating InterestsPrincipal BalanceCarrying Value
Loan A (1)(2)
35.0 %$24,491,877 $7,503,988 35.0 %$24,491,877 $9,238,721 
Loan B (2)(3)
50.0 %2,958,384 2,623,384 50.0 %2,843,280 2,573,280 
Total$27,450,261 $10,127,372 $27,335,157 $11,812,001 
_______________
(1)Carrying value is net of specific allowance for loan losses of $17.0 million and $15.5 million as of June 30, 2025 and December 31, 2024, respectively.
(2)The loan is held in the name of Terra REIT, the Company’s parent entity.
(3)The increase in principal balance as of June 30, 2025 when compared to December 31, 2024 is primarily related to legal fees incurred in connection with the Company's ongoing litigation to seek full repayment of the loan from the sponsor.
The following table summarizes the investment that was subject to a PA with investment partnership affiliated with the REIT Manager as of:
June 30, 2025
   Transfers treated as
obligations under participation agreements
 PrincipalCarrying Value% TransferredPrincipalCarrying Value
Loan C (1)
$20,224,740 $20,426,987 96.9 %$19,606,804 $19,802,872 

December 31, 2024
   Transfers treated as
obligations under participation agreements
 PrincipalCarrying Value% TransferredPrincipalCarrying Value
Loan C (1)
$18,567,296 $18,575,895 96.9 %$18,000,000 $18,173,962 
________________
(1)Participant is a certain separately managed account, an investment partnership managed by the REIT Manager.